Business

Habeco, Sabeco change leaders

Released at: 22:49, 22/08/2015

Country's two two largest brewers have new Chairmen.

by Quynh Nguyen

The Ministry of Industry and Trade (MoIT) has announced that on August 19 it appointed Mr. Do Xuan Ha, former General Director of the Local Industry Department at the ministry, as Chairman of the Hanoi Beer Alcohol and Beverage Joint Stock Corp. (Habeco).

Former Chairman, Mr. Nguyen Tuan Phong, retired on June 1. Habeco will hold a shareholders meeting in the near future to elect new board members.

Another major brewer, the Saigon Beer-Alcohol-Beverage Corp. (Sabeco), also has a new Chairman.

Mr. Phan Dang Tuat has left the position to take on other tasks assigned by MoIT. Mr. Bui Ngoc Hanh has been assigned to replace Mr. Tuat from August 18.

Habeco and Sabeco are the two largest enterprises in Vietnam’s beer industry in terms of output.

In 2014 Sabeco recorded revenue of over VND30.1 trillion ($1.32 billion) and sales of 1.394 billion? liters of beer. It expects to record revenue of VND31.7 trillion ($1.39 billion) this year on 1.425 billion? liters.

Habeco, meanwhile, recorded revenue of over VND7.1 trillion ($312.4 million) in 2014 from sales of 499.5 million liters of beer. It targets producing 1 billion liters by 2020.